Merkel Visits Greece as Debt Talks Remain Locked

10/9/2012 7:19AM

German Chancellor Angela Merkel visits Greece while the country remains locked in negotiations with its creditors over a package of austerity measures. Dow Jones's Jenny Paris discusses the latest developments. Photo: AP

This transcript has been automatically generated and may not be 100% accurate.

I ... the the ... it's the ... it's the it's ... a secure which is nice continues ... to make ... a call with ... its debt negotiations bulging eyes ... iShare with me ... to discuss on ... the of the stocks to open new but seven sons are going to happen like this in ... the midst of these negotiations ... but that's just ... not good ... at that time the report today will this be great underscored the problems Greece based ... on now I actually did visit is coming at a very critical moment for Greece get out of a critical moment for grief not without a point now where there is ... a lot of discussion of how to bring ... prices down that path to sustainable levels and all that is taking place while Greece and the ... reason I can so I simply ... to get the next eight Tencent its bailout so it's it's a lot ... of that that ... Ms McLeish out ok ... this yet we've had the GDP would exceed she did it that GDP will get a two percent ... bike twenty twenty goal it for much of the fifty percent ... of its face it all that sustainable really ... truthfully is on the twenty percent your words ... Greece is the desperate situation and something has to be done ... but ... don't delay in the debt payments ... providing another bailout on ... one of the solution has been proposed ... it has done a great ... all the solutions that create applications for any European politician to make for the European Central Bank by Greece's creditors ... and their solutions in some way or another but it could either giving Greece more money or taking a haircut on their loans the camera ... write it down ... I did the identity all the men ... the Fed event ... I will go away it says that it's a very tough political decision to make for the euro zone governments but when the ECB ... actually began a six-month aching because Econ BCS financing governments ... it was the IMF is to be caught in this is well I mean it it is there as part of the week at which is based in a few fiscal targets in Greece but the thing to be commended for the simple is that I mean that what has been that with continuing with this report ... what has to do with measures that Greece has to take in order to meet its obligations under the current bailout plan ... and these have not been agreed yet but beyond that there is the sea of that debt sustainability ... even if the messages are agreed the IMF may not still be able to sign up on the eighth the cost to says that simply is no longer sustainable unless the recent solutions ... to the tothe to the SEC for Greece ghetto is there really anything that Greece can do ... at this stage a licence eight ... the Greek government which could lead to anything at this stage would be to get back is right that that that will ... well the Greek government test needs to agree on the measures pass the measures to Parliament that the police that they can do at this point ... ahh and at the same time they need to to ALM be able to go see it at the extension of a campaign ... that opposing foreign in order to be able to meet the targets of how the rest of the ... bailout program ... but even that is not can it be enough to bring them to access them ... this is the decision will be on the European governments and Greece's creditors us to watch until sometimes they can ... add to the department agreed to terms with this to actually implement them which is that another crucial to but it's the big ten is ... thirty one billion euros is needed at ... the end of this month ... yes the next month ... or so to basically stay afloat ... so good to know how much time ... the daughter of course they can stretch the time that they have so far it means everything will come at the expense of the Greek economy because payment them of being made ... of money is flowing into the economy ... the sat next a chance basically Greece needs is mainly to come to life events that were deeply to the capital after the time ... that perception that it placed on packing and very much ... so if they don't get the spines that that's simply going to run out of passionately pretty didn't want people to continue financing the economy expected